Oil supply shocks
Trump sets ultimatum on reopening Strait and claims ongoing negotiations
Trump later announced a five-day moratorium on the planned strikes to allow time for ongoing negotiations.
Israel hits South Pars gas field; Iran attacks Qatar, UAE energy facilities
Israeli airstrikes on Iran’s South Pars gas field and others triggered retaliatory Iranian attacks that severely disrupted regional energy infrastructure.
Cuba suffers nationwide blackout; Trump says it would be “an honor to take Cuba”
A total collapse of Cuba's national power grid coincided with some of President Trump’s rhetoric regarding a potential takeover of the island.
NATO rules out sending warships to Strait; Iran denies ceasefire request
NATO and several key member nations have currently ruled out a collective military mission to the Strait of Hormuz.
US bombs Kharg Island; threatens to target oil infrastructure if Strait is blocked
President Trump said the strike "totally obliterated every military target" on the island but intentionally spared its critical oil infrastructure.
Axios: Trump claims Iran nearing surrender in G7 call; Pezeshkian proposes war off-ramp
Just 24 hours after Trump's claim, Mojtaba Khamenei, vowed to continue fighting and maintain the blockade of the Strait of Hormuz.
IEA to release record oil reserves amid Iran’s $200-per-barrel threats
The IEA and the US are releasing supplies from their reserves as Iran vows to ensure not "even a single litre of oil" to pass through the Strait.
Strait of Hormuz ‘effective closure’ triggers global energy shock
The withdrawal of major shipping companies and a tenfold surge in war-risk insurance premiums have created a de facto closure for the Strait of Hormuz.
US declares national emergency and imposes tariffs on oil suppliers to Cuba
The US declared a national emergency over Cuba, citing the Cuban government’s alignment with hostile states and threat to US interests.